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Give lenders what they want, what they really really want!

AKA "What Lenders Expect from Aspiring Home Buyers"




Embarking on your journey to homeownership? Exciting times! But hold on to your hats because there's a secret code you'll need to decipher to qualify for that coveted mortgage. Let's dive into what mortgage lenders are really looking for from the perspective of a hopeful home buyer.

1. Solid Credit Score: Think of your credit score as your financial report card. Lenders want to see a good credit history – so pay your bills on time and avoid those late-night online shopping sprees.

2. Steady Income: Lenders like to see a stable income source. It's like assuring them you can feed your mortgage without skipping meals yourself.

3. Low Debt-to-Income Ratio: Keep your debts in check. Lenders want to know that you can handle your monthly mortgage payments along with your other financial commitments.

4. Down Payment: A down payment is your skin in the game. Lenders like to see you have some savings. It's like bringing your share to the potluck dinner of homeownership.

5. Employment History: Lenders prefer borrowers with a consistent work history. It's like showing you're a reliable team player in the game of life.

6. Paperwork Proficiency: Be prepared to provide detailed financial documents. Lenders want to ensure you're transparent and responsible – not a financial mystery novel.

7. Patience and Perseverance: Remember, the mortgage approval process can sometimes feel like a labyrinth. Stay patient, gather your documents, and follow your lender's guidance diligently.

Cracking the mortgage code isn't rocket science, but it does require some financial finesse. With these insights, you'll be better prepared to navigate the exciting world of mortgage financing and unlock the door to your dream home! 🏡🔑 Having an experience mortgage broker to guide you every step of the way makes all the difference.


Contact The Mortgage Missus Inc. today to learn more!


Tonia Mercer | The Mortgage Missus Inc.



About the author,

Tonia Mercer is an independent mortgage broker. She has been in the industry for 15 years, in 2021 she launched her own brokerage The Mortgage Missus Inc. 

Tonia is passionate about financial education and believes that working with independent experts is the best way to get unbiased, professional advice. She has joined forces with local independent home and auto, financial advisor, legal, appraiser and real estate service providers.Effectively creating a concierge service for all things financial and real estate.

Tonia donates a portion of all mortgage revenue to Mercer's Mission, a street dog and cat feeding mission in the Dominican Republic. https://www.facebook.com/mercersmission 

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